Looking long on oil at the complection of A gartley patten on the usd dollar index U.S. commercial crude inventories on Tuesday and Wednesday to gauge the strength of demand in the world’s largest oil consumer and how fast output levels will continue to rise.
Couple of formations on WTI Chart, looks like we are going to hit 61.6 at $76 per barrel.
FOREXCOM:WTIUSD COT Reports Show Bearish Price Forcasting in the Near Future. Will Crude Break Below the $60 handle shortly? Techincals Suggest yes as well
For more details and background please read my article on Long Term Analysis of Oil published recently at www.talkmarkets.com OPEC meeting is schedule on Thursday the 30th November 2017. It is widely anticipated that OPEC members and other cooperating oil producing nations will agree an extension of the production cut beyond March 2018. It remains to be seen if...